How bitcoin has become Zimbabwe's crisis currency

Bitcoin has a reputation for being unpredictable, unsafe and volatile. But in Zimbabwe, which has been uprooted by political uncertainty after the army seized power from Robert Mugabe last week, it has become a safe haven for many that have fretted about their rapidly deteriorating finances.
The digital currency has been trading at up to $13,000 (£9,800) on Golix, the country's primary bitcoin exchange, over 50pc higher than bitcoin's global price of around $8,000.
But while focus on the cryptocurrency in the West has been on its rapidly ascending price, which pushed to a new record on Monday, this is only a fraction of its appeal in some other countries.
Bitcoin, as its supporters often point out, is not controlled by any government, but is decentralised. Its rules are only made on a majority consensus, and there is a limit on how many bitcoins can be produced, which guards against inflation....
 
Link:http://www.telegraph.co.uk/technology/2017/11/20/bitcoin-has-become-zimbabwes-crisis-currency/

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